SafetyPay CMO Speaks at Boston University

BU Global Marketing students, Professor Patricia Hambrick and Barbara Bibas Montero of SafetyPay.

BU Global Marketing students, Professor Patricia Hambrick and Barbara Bibas Montero of SafetyPay.

SafetyPay’s CMO, Barbara Bibas Montero, was invited as a guest speaker to the Global Marketing class at Boston University’s School of Management on April 17, 2013. She shared with a highly attentive and engaged group of students the marketing challenges of positioning and value creation of a global payment company, particularly one that is innovative.

The visit unfortunately coincided with the recent Boston Marathon event and the loss of one of BU’s own students. Ms. Bibas Montero had the opportunity to share her condolences with the students and commend them for their  true “Boston Strong” spirit.

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A Broader Online Payment Strategy Lets Merchants Sell Worldwide

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By Bailey Reutzel 

Cheap travel and social media continue to connect people all over the world. Companies focusing on e-commerce and payments gateways could see success as the world becomes more globalized by helping merchants handle payments from those who want to spend beyond their borders.

Recently Payelp Global, which provides an e-commerce platform that allows merchants to support an array of different payment methods, partnered with SafetyPay to expand those options. Through SafetyPay, customers with an online bank account can use that account to make online purchases in their local currency.

The system is designed to overcome the limitations of country-specific digital wallets and conventional payment cards.

“We’re trying to globalize business through the Internet,” says Albert Donahue, Payelp’s CEO. The company’s system “connects all countries into one global network.”

This gives companies like Payelp some job security, since cash and cards won’t perish anytime soon even though mobile payments are at the forefront of the discussion today, says Alex Kwiatkowski, a research manager at IDC Financial Insights.

Wallaby, a MuckerLab-backed startup, operates on a smaller scale. Users register all their payment cards in the smartphone app. When a user pays with Wallaby, the app chooses which card to use to get the most rewards.

“It’s about being pragmatic and avoiding the gold rush,” Kwiatkowski says. In mobile payments, many companies risk the same fate as prospectors in the California gold rush, where “a lot of prospectors came away with nothing,” he says.

Companies should have a broad strategy, because mobile payments will not vanquish the benefits of cash and cards in some cases, he says.

“Whereas 10 to 20 years ago the idea of ordering something from overseas was something that felt like a ‘wow’ moment, now it’s become very de facto,” Kwiatkowski says.

Online transactions provide merchants a way to tap into new markets without the expense of hiring new representatives, says Peter Caparso, president of Adyen North America.

Adyen is another global payments provider that provides its merchant clients with more than 100 payment methods across North and South America, Europe and Asia. Recently Adyen launched a portable mobile card reader to support both EMV chip cards and mag-stripe cards.

“There’s an appetite for goods across borders,” Caparso says.

Consumers today “make international payments that look and feel like they’re buying from a store down the road or ordering from a local merchant,” Kwiatkowski says. “The planet hasn’t gotten any smaller in circumference but it certainly feels like it’s getting smaller in terms of commerce.”

Companies like Payelp and Adyen allow merchants to accept any type of payment without adding friction for the shopper. Consumers pay with their preferred method while payments gateways convert the currency.

“At this point there is one global currency — there’s one major currency that we’re calling electronic currency,” Donahue says. “Currency politics isn’t going to change but all these currencies will be optimized into electronic money.”

But as the rise of debit shows, successful new payment methods don’t completely eliminate older ones such as cash and coin, says Kwiatkowski.

Original article from: http://www.paymentssource.com/news/a-broader-online-payment-strategy-lets-merchants-sell-worldwide-3012603-1.html

SafetyPay Announces its First Patent Awarded by the US Patent Office

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SafetyPay is pleased to announce that it has secured its first patent for intellectual property protection from the US Patent and Trademark Office.  The patent relates to electronic payment and financial clearinghouse services allowing individual and corporation shoppers to make online purchases directly through their own online bank account. The patent wording more specifically reads:

Electronic bill payment services provided by means of the global information network; financial services in the nature of a payment system for businesses and consumers for the purchase of goods and services, namely, a financial clearing house between financial institutions and merchants; financial clearinghouse between corporations; merchant credit card processing services; money transfer services, electronic funds transfer services, and bill payment services; clearing and reconciling financial transactions for others, namely, payments clearinghouse allowing individual and corporation shoppers to make online purchases directly through their local bank.

“We submitted the application in 2006 and finally after all this time and effort, we have been awarded this patent which covers all countries around the world,” stated Manuel Montero, CEO. “It was definitely worth the wait because not only does it help to protect our intellectual property, but also it bolsters SafetyPay’s credibility and legitimacy in the marketplace,” he added.

For more information, visit www.safetypay.com.

SafetyPay Expands Its Presence to the U.S. Marketplace as an Emerging Leader in the Airline and Travel Payments Industry

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, a secure payment provider serving online shoppers, merchants and banks worldwide, announced today that it is expanding its presence in the United States as an emerging leader in the airline and travel payments industry. SafetyPay’s recent strategic partnership with UATP (Universal Air Travel Plan, Inc.) allows customers to make online payments worldwide directly through their own bank accounts.

By utilizing UATP’s existing airline connections, this secure form of payment will be easily integrated by the airlines, offering another payment option for customers purchasing airline tickets.  In response to the increasing need of alternative payment options for airline tickets, SafetyPay has tapped into the market by offering a secure payment method for consumers.

According to a recent case study with Peruvian Airlines, SafetyPay offered a solution that allowed their clients a convenient way to pay through SafetyPay’s network of banks regardless of whether they bought tickets online or through the phone.  The results were a 40 percent increase in daily ticket sales within the first few weeks; a 110 percent increase over the following months; and a 30 percent reduction in call center issues.  SafetyPay is now the preferred method of payment in 95 percent of tickets sold by Peruvian Airlines.

“As we expand our global presence to the U.S. market, SafetyPay is able to offer a quick and convenient way for consumers to pay for airline and travel tickets by paying in their local currency from their bank account,” said Manuel Montero , CEO of SafetyPay.

Xsolla Teams up with SafetyPay to Monetize Online Gaming and Social Networking Platforms

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Xsolla, a global virtual currency reseller, has entered a partnership with SafetyPay, a US-based online payment systems developer, to provide payment processing services for online gaming, MMO ( massively multiplayer online), social, mobile and casual games.

SafetyPay enables gaming merchants to accept and approve payments for the digital content purchased by gamers. SafetyPay is an online payment solution that enables online banking customers to make internet purchases from merchants worldwide and pay directly from their local bank account in their local currency.

In recent and related news, SafetyPay has joined forces with HSBC Bank Brazil to extend SafetyPay’s online payment services to the bank’s account holders and small and medium sized business customers, enabling them to pay online for purchases with worldwide merchants using their own currency.

SafetyPay Participates in Enterprise Florida’s Trade Expo in Brazil with the Governor of Florida

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In recent news, SafetyPay attended the Enterprise Florida event held in Brazil from October 23-27th by Governor Rick Scott.  As Florida’s number-one trading partner, Brazil’s economy is expected to be one of the fastest growing in the world in the next decade.

SafetyPay’s latest partnerships with Banrisul and Brazil’s 6th largest bank, HSBC bank ($75 billion in assets), has positioned the secure payment facilitator as a leader in the Brazilian payments industry.  For more information about SafetyPay, visit www.safetypay.com.

Failsafe Payments Adds SafetyPay to CertoConnect

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Failsafe Payments has announced that SafetyPay, a service that enables shoppers to pay for online purchases directly via their own bank account and in local currency, is now fully integrated with Failsafe Payments alternative payments service, CertoConnect.

CertoConnect is designed for merchants to extend the possibilities to easily accept alternative payments online using established local and international payment systems.  CertoConnect is integrated with major local and international alternative payment brands and payment gateways.

SafetyPay™, a secure payment provider serving online shoppers, merchants and banks worldwide, will allow CertoConnect merchants to enable and activate SafetyPay as an online payment option for their goods or services. Existing SafetyPay merchants can now use CertoConnect to explore other alternative payment methods and let CertoConnect consolidate all payment methods into a single and secure payment page.

Sandra Feinberg VP of Sales for SafetyPay added, “ With this co-operative venture, both companies will reap huge benefits. In today’s competitive marketplace, businesses need to have a global web presence – but it can be expensive and risky to expand into new markets. Real time bank payments minimize the risk and now SafetyPay merchants now have the opportunity to greatly expand their current market reach, with minimal risk, very quickly together with CertoConnect. This is a win-win deal for everyone involved.“

How to Shop Safely, Without the Risk of Fraud this Holiday Season

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Online retail sales this holiday season are predicted to reach up to $59.5 billion this year, which puts consumers at higher risk of identity theft and fraud.  If hackers obtain your debit card number, your bank account can be completely emptied out.  Therefore, it is important to shop safely and be cautious about which websites you make purchases from during the holiday season.  The following are some online shopping safety tips:

1.  Make sure that your computer has anti-virus or anti-spyware software to ensure that you aren’t acquiring any viruses or malicious programs.

2.  Check the websites that you make purchases from, to ensure that the sites are secure.  You can check this by looking to see if they provide SSL (Secure Socket Layer) security, which can typically be found somewhere on the home page.

3.  Be careful when you post personal information online.  Do not share any addresses or payment information on social networking sites, as it is easy to access.

4.  Only shop at trusted websites.  Before you make a purchase from a website, check for customer testimonials or look to see if they are part of the Better Business Bureau listings.

5.  Do not give out your social security number online.  No merchants should require you to release your social security number while shopping online.

The safest way to shop online is through SafetyPay, a secure e-payment system that allows all online banking customers to make online purchases worldwide directly through their bank.  SafetyPay provides a safe international shopping experience without the need to disclose any financial information or the use of credit cards.  Shop globally, pay locally with SafetyPay this holiday season.

SafetyPay Partners With Brazil’s 6th Largest Bank, HSBC Bank Brazil

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SafetyPay, a secure payment facilitator and clearinghouse benefiting online shoppers, online merchants and banks worldwide, today announced a partnership with Brazil-based HSBC Bank Brazil ($72 billion in assets), that will extend SafetyPay’s online payment services to the bank’s 5.5 million account holders and 400,000 small and midsize business clients, providing them with the ability to pay with their own currencywhen shopping with worldwide merchants online.

To read the full press release, click here

New Heights for Peruvian Airlines…Thanks to SafetyPay. Download SafetyPay’s Peruvian Airlines Case Study Here.

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SafetyPay offered Peruvian Airlines a solution that would allow their clients a convenient way to pay through SafetyPay’s network of banks regardless of whether they bought tickets online or through the phone. Airline customers could make payments through the Internet or directly at physical locations. Additionally, SafetyPay would collect the funds and notify the airline upon receipt to authorize ticket issuance to the client as well as send the funds daily and provide transaction/reconciliation reports.

 

Impressed with this solution, Peruvian Airlines signed a contract with SafetyPay in January of 2010. Three weeks later SafetyPay was established as the new payment method for all their flights. Merchants who partner with SafetyPay enjoy cross-promotional opportunities and access to millions of online bank customers. In Peru alone, SafetyPay is affiliated with the four top banks, accounting for over 10 million customers. Jointly with one of their bank partners (Interbank),

 

SafetyPay promoted Peruvian Airlines to a test group of 25,000 customers as a new merchant accepting SafetyPay with special offers, via both bank and SafetyPay websites, statement stuffers and flyers.

Download the full case study here.